MANILA, PHILIPPINES--(Marketwire - February 20, 2009) - Philippines Royal Oil & Alternative
Energy, Inc. (PINKSHEETS: PROL) (FRANKFURT: 3HD) (XETRA: 3HD) looks ahead
to the increased demand for bio-genetics engineering, natural alternative
healing medicine and stem cell research and development. The company is to
become a manufacturer and distributor of products for alternative natural
medicine and bio-genetic engineering technology. Diversifying the company's
business scheme, PROL's Management entered into a Memorandum of Agreement
(MOA) that specializes in this industry.

Last January 2, 2009, PROL's representative visited the potential site in
south eastern region of Mindanao Island, Philippines. The company is
relocating its corporate headquarter to this region this Spring, to focus
on the exploration, research and development of alternative, natural,
herbal and bio-genetically engineered medicine for the cure of illnesses
such as tuberculosis, cancer, heart disease, leprosy, diabetes, and many
more. This move will expedite the smooth transition and diversification of
its new business plan.

The relocation to Southern Mindanao was approved by the new 68% majority
shareholder, after the former 68% majority shareholder, due to health
reasons, sold all of its PROL shares and holdings to RJH Industries, LLC.
On January 19, 2009, RJH acquired the controlling interest in Philippines
Royal Oil (PROL). To complete the merger, PROL has undergone corporate
re-organization: (a) changes name to Bio-Genex Laboratories, Inc. (b)
appointed new board of directors (c) reduces the number of all its Issued &
Outstanding shares by a 500 to 1 Reverse Split on company's record date of
March 19, 2009, whose effective date will be set upon the change of symbol
and CUSIP #, to be announced by MDI NASDAQ. There will be no fractionated
shares meaning that all shareholders holding 500 or less of pre-split
common shares of PROL will round up -- to receive twenty five (25) post
split common shares of Bio-Genex Laboratories, Inc. Specific details to be
announced in the next press release. Subsequently, within 90 days, the
company intends to pay a restricted dividend of 10 for 1 so that no
shareholder will own less than 250 common shares post reverse split and
restricted dividend.

PROL's Management strongly believes that with this 2009 merger and
acquisition, the new business focus on genetic engineering, stem cell
research and development for alternative healing medicine, the company will
be able to capitalize the already expected and surging global boom in this
industry. It is expected that by the end of 2009, the change of business
direction will bring the company closer to its goal to bring in production
and profitability.

Bio-Genex is optimistic that this new development will rapidly be of value
to the shareholders, while the company submits its NASD 211 to FINRA within
the next 3 months.

FORWARD-LOOKING STATEMENTS

Forward-looking statements involve known and unknown risks, uncertainties
and other factors that may cause our actual results, performance or
achievements to differ materially from the anticipated results, performance
or achievements expressed or implied by such forward-looking statements.
Forward-looking statements in this release include statements regarding the
Company's projections regarding research and developments, manufacturing
and production in future periods. Factors that could cause actual results
to differ materially from anticipated results include risks and
uncertainties such as: risks relating to estimates of production costs;
research and development risks; the risk of commodity price fluctuations;
political and regulatory risks; risks of obtaining required operating
permits and other risks and uncertainties. Penny Stocks are very highly
speculative and may be unsuitable for all but very aggressive investors.
The Company disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.